- Sort by:
- Score
- Published ▼
-
Egypt’s Petchems Boosted By New Gas – But Demand Also Rising
...rea Misr petchems plants this week reported a “stellar performance” in Q1 2017, with revenues up 15% year-on-year to $82.6mn. Alexfert utilization was “north of 100%” with the plant “receiving its full gas allocation.” At the end of 2016 EKH was already “quickly regaining its position” in the global fe...
Volume: 60Issue: 20Published at Fri, 19 May 2017 -
Egypt Oil Debts Put Brake On Investment
...June. Egypt owed a total of $3.4bn at end-March according to its own reckoning, so, if completed, these two 1H 2017 payments would equate to 44% of the then total. Oil Minister Tarek El Molla says receivables will be halved by the end of the year and eliminated by mid-2019. REGULAR PA...
Volume: 60Issue: 20Published at Fri, 19 May 2017 -
Riyadh Refinery Maintenance Set To Conclude
...t still rises seasonally. Jodi data released this week shows that Saudi direct crude burn averaged 280,000 b/d in Q1 2017, down 14% from 327,000 b/d in Q1 2016 (see p9)....
Volume: 60Issue: 20Published at Fri, 19 May 2017 -
Saudi Electricity: Debt Write-Off Clears Way For Break-Up
...rst quarter of 2017, a quarter in which it typically makes a loss. However, the income boost appears to be the result of a reclassification of debt, with an accompanying adjustment to the credit balance. In its Q1 financial results report posted on the Saudi Stock Exchange (Tadawul), SEC says the qu...
Volume: 60Issue: 20Published at Fri, 19 May 2017 -
Opec Facing Tough Choices Ahead Of Vienna Meeting
...RKET REBALANCING* REMAINS ON COURSE FOR Q4 2017... (CUMULATIVE 2017 STOCK DRAWDOWN MN BARRELS) ...BUT OPEC’S LATEST NUMBERS SHOW THE FINISH LINE GETTING EVER FURTHER AWAY *BASED ON OPEC SEC-GEN STATEMENT THAT REBALANCING REQUIRES 270MN BARREL STOCKDRAW. SOURCE: OPEC, IEA, MEES. BU...
Volume: 60Issue: 20Published at Fri, 19 May 2017 -
Algeria Parliamentary Poll: Status Quo - On, And On, And On Again
...ts. With the government announcing further fiscal consolidation this year, the World Bank expects real GDP growth to average 1.2% in 2017-19, down from 3.8% in 2016 – that was primarily due to a strong recovery in hydrocarbon production and higher-than-expected spending. “In 2017-19, a modest 2....
Volume: 60Issue: 20Published at Fri, 19 May 2017 -
Egypt Economic Reforms Remain On Track But Long Road Ahead
...the draft 2017-18 budget, which has just been submitted to parliament but not yet approved. Mr Molla says the restructuring and rationalization of subsidies across the board, covering petroleum products, electricity and consumer goods among others, are part of a comprehensive government plan to...
Volume: 60Issue: 20Published at Fri, 19 May 2017 -
Oman Export Revenues Down, Rating Junked
...port for the first time since 2015. EXPORTS DOWN, REVENUES UP Despite crude and condensate exports falling, export revenues have steadily increased from Q2 2016 through Q1 2017. MEES calculates Omani crude revenues totaled $3.7bn in Q1, up $800mn year-on-year and the highest since Q3 2015 (see ch...
Volume: 60Issue: 20Published at Fri, 19 May 2017 -
Mubadala Taps Softbank
...ami says the fund “is a significant opportunity for good financial returns.” Its net profit for the year ending in March 2017 tripled to ¥1,439bn ($12.5bn) from ¥474bn the previous year – it attributes much of this to the sale of an undisclosed number of its shares in Chinese online retailer Al...
Volume: 60Issue: 20Published at Fri, 19 May 2017 -
Asian LNG Prices Weaken Despite Aussie Plant Delays ($/Mn Btu)
...s on 12 May shut for at least a month, only the latest in a series of unplanned outages. And the 8.9mn t/y Ichthys project operated by Japan’s Inpex has had start-up pushed back from 3Q 2017 to 1Q 2018. • On the bearish side are signs that Egypt is looking to defer or cancel cargoes as the ramp up...
Volume: 60Issue: 20Published at Fri, 19 May 2017 -
Abu Dhabi Shakes Up Adnoc Management
...ctor in his appointment. Adco is targeting production of 1.8mn b/d by 2018, pushed back from 2017, but with output largely stalled at 1.6mn b/d, it may miss this target. WILL HE TWEAK ADCO TERMS? One issue facing Mr Ghafli is whether to improve the terms on offer to IOCs looking to join the Ad...
Volume: 59Issue: 20Published at Fri, 20 May 2016 -
Iran Taps China For $1.5bn Refinery Upgrade, Warns Over Lack Of Upstream Progress
...pacity is 1.86mn b/d; completion of the three projects would lift crude and condensate processing capacity to 2.85mn b/d. Persian Gulf Star is the most advanced of the three, with NIORDC saying the first of three 120,000 b/d splitters is due to start up by the end of March 2017. Alireza Sadeqabadi, ma...
Volume: 59Issue: 20Published at Fri, 20 May 2016 -
Saudi Edges Up Capacity, Looks To IPPs For Boost
...arted up in third quarter 2014 is expected to reach full commercial operation this year, the 2.10GW Rabigh-2 CCGT plant is expected to start commercial operation in June 2017, and the 1.5GW Fadhili cogen JV between SEC and Aramco is “currently at the proposal phase.” SEC expects the signing of a co...
Volume: 59Issue: 20Published at Fri, 20 May 2016 -
Saudi 2030 Plans: Turning The Vision Into Reality
...troChina’s valuation briefly topped $1 trillion in the wake of its November 2007 floatation: it is now worth $192bn. LATE 2017: 5% ARAMCO LISTING? “What we’ve been hearing from the local banks and brokers we’ve been speaking to, who are among the biggest in the region, is that the Aramco listing will ta...
Volume: 59Issue: 20Published at Fri, 20 May 2016 -
Saudi Aramco Oil, Gas Reserves At All-Time High
...ightly behind schedule in mid-2016 rather than in 2015 as announced previously. There was no mention of Khurais, which is being expanded to produce 1.5mn b/d of Arabian Light by 2017 from 1.2mn b/d currently. The latter project appears to have been superseded by a revamp of the Dammam field, one of the ea...
Volume: 58Issue: 20Published at Fri, 15 May 2015 -
Morocco’s $4.6bn LNG Scheme Continues To Drum Up Interest
...edstock. According to the roadmap, it will take 48 months to build the planned LNG regasification terminal (starting from October 2017), 36 months for the jetty and 36 months for new CCGTs. The roadmap does not say which plants will be included in the 2.7GW target. The ONEE, the national office for el...
Volume: 58Issue: 20Published at Fri, 15 May 2015 -
Aramco Boosting Refining Capacity, Plans ‘Value-Maximizing’ Integration
...a short period. In 2014 Aramco also started building a 400,000 b/d refinery at Jazan. Commissioning is due to start in 2017, but this may slip if local security worsens. Satorp is “one of the largest, most complex refineries in the world,” capable of fully converting 400,000 b/d of Arabian Heavy cr...
Volume: 58Issue: 20Published at Fri, 15 May 2015 -
Saudi Power Expansions: Not Only More Capacity, But More Efficient
...,700 b/d of Arabian Light crude oil. The upgrade involves the addition of four HRSGs and one steam turbine and is due for completion in early 2017. Amec Foster Wheeler says the upgrade will add 147MW of capacity “without increasing the fuel consumption.” Amec Foster Wheeler is also supplying six HRSGs fo...
Volume: 58Issue: 20Published at Fri, 15 May 2015 -
Dark Horse GS Energy Makes It To Adco Finish Line
...w Adco concession in January, and Inpex, leaving 22% still open for foreign participation. The Abu Dhabi National oil Company (Adnoc) retains a 60% controlling stake in the restructured Adco, which manages 15 onshore fields currently producing 1.6mn b/d and due to rise to 1.8mn b/d by 2017. GS En...
Volume: 58Issue: 20Published at Fri, 15 May 2015 -
Libya Could Run Out Of Cash Sooner Rather Than Later
...sses of $2.4bn a month. If the rate of decline continues, reserves would be exhausted by August 2017. But in the past two years, the depletion in reserves has been accelerating, meaning that Libya could run out of funds by early 2017, according to MEES calculations. The IMF, in its latest regional ec...
Volume: 58Issue: 20Published at Fri, 15 May 2015